AgDay Daily Recap -February 15, 2013

GOOD MORNING I'M CLINTON GRIFFITHS. IS RAISING THE MINIMUM WAGE GOOD FOR WORKERS, BAD FOR BUSINESS OR VICE VERSA. IT'S A DISCUSSION WITH FAR REACHING IMPACTS INTO AGRICULTURE.

PAYMENT LIMITS BILL:

AS EXPECTED, SENATORS INTRODUCED LEGISLATION TO PLACE CAPS ON FARMER'S ANNUAL PAYMENTS. THE BIPARTISAN GROUP INTRODUCED THE FARM PROGRAM INTEGRITY ACT OF 2013 THIS WEEK. THE LEGISLATION IS MEANT TO CLOSE WHAT'S BEING CALLED "LONG-ABUSED AND WELL DOCUMENTED" LOOPHOLES IN THE PAYMENT PROGRAM. IF PASSED, A 50 THOUSAND DOLLAR CAP WILL BE PLACED ON COMMODITY PROGRAM BENEFITS AND 75 THOUSAND CAP ON PROGRAMS LIKE LOAN DEFICIENCY PAYMENTS. COMBINED, THE TOTAL CAP WOULD BE 125 THOUSAND DOLLARS OR 250 THOUSAND FOR MARRIED COUPLES.

JOHANNS EPA BILL:

NEBRASKA SENATOR MIKE JOHANNS IS TAKING ON THE EPA. HE INTRODUCED A BILL ASKING FOR MORE TRANSPARENCY AND ACCOUNTABILITY FROM THE AGENCY.

DROUGHT MONITOR:

THE DROUGHT HAS EASED SLIGHTLY ACROSS THE CONTIGUOUS U-S. THAT'S ACCORDING TO THE LATEST DROUGHT MONITOR. THE BIGGEST RELIEF CAME IN THE SOUTHEAST, AS A SEVERE, WIDESPREAD STORMS DROPPED RAIN FOR A FEW DAYS. AND TAKE A LOOK AT THIS. OUR CORPORATE COUSINS OVER AT FARM JOURNAL SHARED THE RESULTS OF THEIR LATEST FARM JOURNAL PULSE. THEY ASKED FARMERS AND RANCHERS ABOUT SOIL MOISTURE. AS YOU CAN SEE, RESPONSES LINE UP NEARLY PERFECTLY WITH THE DROUGHT MONITOR.

SUMMER REPEAT:

WE WISH WE HAD BETTER NEWS TO REPORT REGARDING DROUGHT RELIEF, HOWEVER THE OUTLOOK FOR RECHARGING SOIL PROFILES IN MUCH OF THE MIDWEST DOESN'T LOOK PROMISING. A UNIVERSITY OF MISSOURI CLIMATOLIGIST SAYS WHILE HE EXPECTS THE MIDWEST TO EXPERIENCE MORE MOISTURE THAN LAST YEAR, IT WILL BE AT BELOW-NORMAL LEVELS.

GYPSUM RESEARCH:

USDA MAY HAVE FOUND A WAY TO HELP SOILS ABSORB MOISTURE BETTER, MAKING IT EASIER FOR CROPS TO FIND WATER DURING A DROUGHT. RESEARCHERS SAY USING GYPSUM AS A SOIL AMENDMENT HELPS PUSH EXCESS WATER INTO SOIL RESERVES. THE CROPS ARE THEN ABLE TO TAP INTO THOSE RESERVES WHEN MOISTURE ISN'T THERE.

CROP WATCH:

FROM CONCERNS ABOUT HIGH LAND PRICES IN THE NORTH, AND WORRIES ABOUT A PRECIOUS PEACH CROP IN THE SOUTH, MIKE HOFFMAN HAS THE DETAILS IN THIS MORNING'S CROPWATCH.JOHN DEERE FINANCIALS:

IN AGRIBUSINESS TODAY, DEERE AND COMPANY ROLLED OUT ITS FISCAL FIRST QUARTER RESULTS. EARNINGS ARE UP 22 PERCENT WITH REVENUES OF 7 POINT 4 BILLION. EQUIPMENT SALES ARE BEATING EXPECTATIONS THANKS MAINLY TO ITS AGRICULTURE AND TURF EQUIPMENT. PROFITS WERE JUST SHY OF 650 MILLION DOLLARS

EQUIPMENT SALES:

THE ASSOCIATION OF EQUIPMENT MANUFACTURERS ECHOS THOSE SENTIMENTS. ITS LATEST FLASH REPORT SHOWS JANUARY SALES ON ALL TRACTORS UP OVER 20 PERCENT FROM A YEAR AGO. FOUR-WHEEL DRIVE TOOK THE BIGGEST JUMP, CLIMBING MORE THAN 80%. EQUIPMENT SALES IN CANADA ALSO ROSE IN THE DOUBLE DIGITS..

PROFIT BRIEFING:

IT SEEMS THE MARKET'S EYES ARE FOCUSED ON THE RECORD CROP COMING FROM SOUTH AMERICA. AND WHAT IT COULD MEAN HERE AT HOME. HERE TO SORT-OUT THE NUMBERS IS PROFARMER EDITOR CHIP FLORY AND SENIOR MARKET ANALYST BRIAN GRETE. THEY JOIN US FROM THE PRO FARMER STUDIOS.

AUSSIE RABBITS:

RABBITS HAVE BEEN A SERIOUS PEST IN AUSTRALIA SINCE THEY WERE INTRODUCED TO THE COUNTRY IN THE 1850'S FOR RECREATIONAL HUNTING. A RUN OF GOOD CROP SEASONS HAS RESULTED IN A POPULATION BOOM THAT'S CAUSING MILLIONS OF DOLLARS WORTH OF DAMAGE. BECAUSE RABBITS BREED REGULARLY FROM THE AGE OF THREE MONTHS GESTATION IS ONLY A MONTH LONG, A SINGLE PAIR OF RABBITS CAN INCREASE THE POPULATION BY 180 IN JUST A YEAR AND A HALF.

HEINZ BUYOUT:

IN FOOD AND YOUR FAMILY, A POPULAR KETCHUP COMPANY HAS NEW OWNERS- MAKING IT THE BIGGEST BUYOUT IN THE HISTORY OF THE FOOD INDUSTRY.

RED MEAT:

THE RISKS OF CONSUMING RED MEAT HAVE SURFACED FOR YEARS. A NEW STUDY SHOWS THE MEAT IS VITAL TO A PERSON'S OVERALL NUTRITION. A STUDY IN THE UNITED KINGDOM SHOWS LOW-INCOME FAMILIES, TEENAGERS AND FEMALES WHO FACE NUTRITIONAL CHALLENGES, ARE OFTEN LACKING ESSENTIAL NUTIRIENTS, LIKE IRON AND POTASSIUM. RESEARCHERS SAY A HEALTHY DOSE OF LEAN RED MEAT IS THE SOLUTION. THEY SUGGEST INTEGRATING RED MEATS INTO DIETS FROM INFANTHOOD TO OLD AGE. THIS SHOULD HELP PROVIDE ESSENTIAL MICRONUTRIENTS IN ONE'S DIET, WITHOUT OVERLOADING ON CALORIES AND FATTY ACIDS.

PET FOOD:

WE'VE HEARD OF PAMPERED PETS, BUT IT SEEMS A GROWING TREND IS TAKING THAT TO THE NEXT LEVEL. IT'S THE RAW AND ORGANIC FOOD REVOLUTION, BUT FOR PETS. FROM CHICKEN TO BEEF TO TURKEY, THE OPTIONS ARE ENDLESS. BUT IS IT HEALTHIER FOR YOUR PETS? THAT QUESTION GETS MIXED REACTIONS.

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